I'll provide my feedback as I own a G5 with the crappy LCS. When I first got it, the thing would run but overheat. Took it apart, rebuilt it with new o-rings, 3/8 fuel line (a bit small on the inside, maybe cuts down on the pressure or something), and Feser One coolant (probably the best way to go is just distilled water and drain it every year or so, that way it's fresh).
Some mornings I would wake up to it working, others I get the 2 red CPU lights. One way to get it working is pressing the button right under the bottom slot of ram (and if the mac is on and you press that, the entire thing will power off), and usually it'll boot. Another thing I've had to do is take the LCS out and swap the top and bottom processors and run Apple Service Diagnostics 2.5.8 calibration for the fans, and that will help too. My other 2.7GHz G5 is just fine with the stock system, no issues. But this one that has issues, I'm going to find a set of air cooled heatsinks and see if that helps.
If you replace the coolant, be sure to have no air bubbles in there. Keep the system full and check on it every couple of days afterwards. When I did mine I had to pull it out a few hours later, drain the air, and force more coolant down the service hole. So the pump never runs dry!
Best of luck